Publication at Faculty of Law |
2019
Abstract
The ICO phenomenon and the dynamic expansion of cryptocurrencies represent a challenge for economics, jurisprudence and legal practice, including financial law. The paper deals with the analysis of whether, and to what extent, the intersections between ICO and cryptocurrencies and EU and national financial market regulation can be sought and what consequences arise.
The key point in this discussion is the assessment of the relevance of the "traditional" institute of financial instruments in relation to cryptocurrencies, including the controversial question: can the cryptocurrencies under certain circumstances present a financial instrument?